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The Korea Herald

Markets

July 08, 2022
LG Innotek to invest W1.4tr to beef up production

LG Innotek said Wednesday that it is investing a total of 1.4 trillion won ($1.07 billion) into its local facilities by 2023 to beef up the production of circuit substrates and camera modules -– its key growth drivers. The company signed a memorandum for the new investment with the local governme...
July 06, 2022
June Huh becomes 1st Korean descent to win Fields Medal

Korean American mathematician June Huh has won this year’s prestigious Fields Medal to become the first person of Korean descent to receive the prestigious international award. The Fields Medal, widely regarded as the Nobel Prize of mathematics, is given to mathematicians under the age of 40 for ...
July 06, 2022
Ministry to probe Eastar Jet for false data allegation

The government will investigate Eastar Jet Co. for false accounting data which the local budget carrier submitted to obtain approval to be an international air operator on Dec. 15, said the Ministry of Land, Infrastructure and Transport on Tuesday. Data previously submitted by Eastar Jet showed th...
July 06, 2022
Samsung chief meets Japanese business leaders

Samsung Electronics Vice Chairman Lee Jae-yong held meetings with Japanese business leaders who were staying in Seoul this week to attend the annual gathering of the Korea-Japan Business Council, according to the tech giant on Tuesday. Lee, the de facto leader of Samsung, on Monday had dinner with...
July 06, 2022
Samsung chief’s personal fortune falls by W2tr in H1 as stocks dip

The personal fortune of Samsung Electronics Vice Chairman and de facto leader Lee Jae-yong has decreased by over 2 trillion won ($1.54 billion) during the first half of 2022, as shares of key Samsung affiliates tumbled due to a bearish stock market in Korea, data showed Tuesday. As a result, the t...
July 06, 2022
Labor strike imminent at Hyundai Motor Group

A labor union’s first walkout in four years is imminent at Hyundai Motor Group, as unionized workers are setting the stage for a strike. Meanwhile, the Korean carmaker came under greenwashing accusations in Germany for manipulating exhaust emissions, escalating the strain on the beleaguered carmak...
July 06, 2022
BOK eyes bumper rate hike as inflation hits 24-year high

The Bank of Korea is emboldened to raise its benchmark rate by 50 basis points for the first time next week, as consumer prices in June increased 6 percent from a year earlier, the highest level since November 1988, when they jumped 6.8 percent on-year. Data from Statistics Korea released Tuesday ...
July 06, 2022
Yoon nullifies nuclear energy phase-out

SEJONG -- The Cabinet on Tuesday approved the administration’s energy policy direction, which is aimed at raising the share of nuclear energy among the nation’s total power generation from the current level of 27.4 percent. According to the Ministry of Trade, Industry and Energy, the administrat...
July 06, 2022
Metaverse offices are the future of work: Zigbang execs

Local property technology firm Zigbang made a bold decision last year to relocate its Seoul headquarters -- not to New York or Tokyo, but to a virtual world. Instead of a hellish commute in the mornings and evenings, its 400 workers log in to a new interface the company has created. Workers’ avat...
July 06, 2022
In fresh restart, SsangYong Motor launches new SUV Torres

South Korean sports utility vehicle maker SsangYong Motor officially unveiled its new Torres mid-size SUV at a media showcase on Tuesday, declaring a fresh start for the debt-ridden carmaker supported by a record-high number of preorders. Kwak Jea-sun, who heads KG Group, which is set to take a ma...
July 06, 2022
LG secures W8tr in automotive parts orders in H1

LG Electronics said Tuesday its automotive parts business has secured new orders worth 8 trillion won ($6.16 billion) in the first half of this year, with the total cumulative orders set to exceed 65 trillion won by the end of this year. The company said its Vehicle Component Solution unit has rece...
July 06, 2022
Foreign reserves see sharpest fall since financial crisis

South Korea’s central bank said Tuesday that foreign reserves in June saw the sharpest decline since November 2008, when the country was dealing with the global financial crisis, feeding concerns of the weakening value of the Korean won against the US dollar. “Korea’s official foreign reserves ...
July 05, 2022
‘SK Innovation’s green transformation has high potential for success’

SK Innovation’s green transformation strategy, announced a year ago, has “a very high potential for eventual success,” said one US scholar who cited its “clarity of purpose of vision,” “well-reasoned plan of execution” and an “intangible advantage of culture and management systems.” In a ...
July 05, 2022
S. Korea hits record-high power demand in June

Early sizzling temperatures that hit the country last month led to record-breaking electricity demand for the month of June, data showed Monday. According to Korea Power Exchange, the country’s average maximum power demand stood at 71,805 megawatts last month, up 4.3 percent on-year -- the highes...
July 05, 2022
Policymakers to look for signs of recession ahead of rate hike

The Finance Ministry said Monday that the government would respond to any signs of economic weakness before it turns into a crisis by closely tracking indicators pointing to a worsening outlook, like inflation or recession, ahead of the Bank of Korea’s rate hike next week. The country’s five eco...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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